V. Competitive Analysis

Competitor 1
One of the most well-known Ethereum wallets in the NFT market is offered by Competitor 1, and it also functions as a portfolio tracker. Users can add an account to a watchlist and view the wallet's whole contents in-app by inputting the Ethereum wallet address or ENS name of another collector. The ENS name or account number will appear in the dropdown menu on the account balances screen once it has been added. Users can view the coins that are in a certain wallet, their value, the NFTs that are in that wallet, and even their recent transaction history by switching back and forth between watchlist entries.

Competitor 2
Competitor 2 monitors Decentraland's real-time transactions on the NFT market. It provides tools to assist NFT fans, whales, and professionals in tracking the development of the NFT markets. They track decentralized asset transactions in real-time on the Ethereum blockchain. Competitor 2 keeps users informed of breaking news and emerging projects via weekly newsletters and tracks the sales history of every asset or project, intending to assess the current price and performance.

Competitor 3
Competitor 3 offers plenty of amazing analytics tools. Users may easily find trending projects on the platform, and they can also keep tabs on floor prices, volume, past sales, and other information. On the platform of Competitor 3, many tools are offered without charge, and premium capabilities can be unlocked by paying a relatively small monthly cost. NFT maximalists favor the company as it has a voice that resonates in line with the NFT community's values. 

Strengths

• User-friendly NFT analytics/tracking platform that provides detailed insights and data analysis for non-fungible tokens (NFTs).
• Incorporating algorithms or partnerships with external services to assess the rarity and authenticity of NFTs, thus identifying potential counterfeit or fraudulent NFTs.
• The platform provides various analytics tools and generates reports that summarize key metrics that help users understand the market dynamics and identify emerging trends.
• The platform also enables users to customize their analytics preferences and set up personalized alerts based on their specific interests and investment strategies.

Weakness

• Being new to the industry could lead to a significant lag in establishing goodwill and trust.
• Navigating and adhering to changing regulatory frameworks and ensuring compliance with data protection and privacy requirements may be difficult and expensive.

Opportunities

• The demand for NFT analytics/tracking platforms is driven by the growing NFT market, the need for data-driven decision-making, risk mitigation, portfolio management requirements, and the desire for industry insights and education.
• A number of individuals are investing in dynamic NFTs and game NFts to save in-game buys, sells, or transfers with the help of blockchain technology, and NFT analytics tools play a crucial role in analyzing the market and giving valuable insights.

Threats

• Competitors might copy the company's business model.
• Changing customer preferences and government regulations may be a threat to the company's growth.